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A Complete List of Everything in the Republican Bill, and How Much It Would Cost or Save

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A Complete List of Everything in the Republican Bill, and How Much It Would Cost or Save

Depreciation allowance for qualified production property

Allow immediate deductibility of 100 percent of the cost of certain new factories and improvements

$148 bil.

Business interest deduction

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Change calculation of adjusted taxable income

$40 bil.

Depreciation allowance for certain property

Allow immediate expensing of 100 percent of the cost of qualified property acquired from 2025 to 2030

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$37 bil.

Expensing of certain depreciable business assets

Increase dollar limitations

$25 bil.

Deduction of domestic research and experimental expenditures

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Allow immediate deductibility for expenditures paid or incurred from 2025 to 2030

$23 bil.

Charitable contributions to organizations with scholarships

Provide new tax credit for gifts to organizations that provide scholarships. For calendar years 2026-2029.

$20 bil.

“MAGA accounts”

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Create new savings accounts for children, with a government contribution of $1,000 per child born from 2024 to 2028

The name was changed to “Trump accounts”

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$17 bil.

Small manufacturing businesses

Change accounting rules

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$15 bil.

Low-income housing credit

Modifies credit allocations and bond-financing thresholds, and gives a basis boost to Indian and rural areas

$14 bil.

Reporting threshold for payments

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Increase thresholds for reporting payments to independent contractors and other payees

$13 bil.

Employer payments of student loans

Make the exclusion from gross income permanent and index for inflation

$11 bil.

Opportunity zones

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Renew and make changes to the existing program

$5.5 bil.

Adoption tax credit

Make credit partially refundable and change rules for tribal governments

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$2.3 bil.

Interactions between provisions

$1.8 bil.

Firearm silencers

Eliminate transfer tax

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A last-minute change would deregulate silencers and eliminate a manufacturer tax on them.

$1.4 bil.

Loans secured by rural or agricultural real estate

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Partially exclude interest on certain loans

$1.1 bil.

Certain income earned in the U.S. Virgin Islands

Exempt income for the purposes of a “GILTI” deduction

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$0.9 bil.

Employer-provided child care credit

Permanently increase, add a new separate amount for small businesses, index for inflation

$0.7 bil.

Repeal excise tax on indoor tanning

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This provision was removed from the bill.

$0.4 bil.

Sound recording productions

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Increase ability to expense certain costs of producing sound recordings

$0.2 bil.

529 savings plans

Expand allowed expenses

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$0.1 bil.

Disaster-related personal casualty losses

Extend rules

$0.1 bil.

Certain purchases of employee-owned stock

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Disregard for purposes of foundation tax on excess business holdings

Exclusion of research income from unrelated business taxable income

Limit to publicly available research

I.R.S. Direct File program

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Replace program with a public-private partnership to offer free tax filing

Increase penalties for unauthorized disclosures of taxpayer information

Postpone tax deadlines for those wrongfully detained abroad

Restrict regulation of contingency fees

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Terminate tax-exempt status of certain organizations

Organizations that “provided more than a minor amount of material support or resources to a listed terrorist organization”

Wagering losses

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Permanently extend limit

Qualified bicycle commuting reimbursement

Permanently eliminate the exclusion

–$0.2 bil.

American opportunity and lifetime learning credits

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Require that students or taxpayers filing on behalf of students include their Social Security Numbers on tax returns

–$0.9 bil.

Sports franchises

Limit amortization deductions for certain sports-related intangibles

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–$1.0 bil.

Increase penalties connected to Covid-related employee retention credits

–$1.6 bil.

Unrelated business taxable income of a tax-exempt organization

Increase by amount of certain fringe benefit expenses for which deduction is disallowed

–$2.7 bil.

Name and logo royalties

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Treat as unrelated business taxable income

–$3.8 bil.

Tax on excess compensation within tax-exempt organizations

Expand application of tax

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–$3.8 bil.

Mortgage, casualty loss and other itemized deductions

Permanently lower the home mortgage interest deduction to the first $750,000 in debt, limit the casualty loss deduction to losses resulting from federally declared disasters and terminate miscellaneous itemized deductions

–$6.2 bil.

Investment income of certain private colleges and universities

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Increase excise tax for wealthier institutions

–$6.7 bil.

Excise tax for tobacco products

Limit drawback of taxes paid with respect to substituted merchandise

–$12 bil.

Moving expenses exclusion and deduction

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Permanently eliminate both, except for active-duty military

–$14 bil.

Earned income tax credit

Make changes to prevent duplicate claims and create a program integrity task force

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–$15 bil.

Compensation paid to certain high-earning employees

Change deduction limitation rules

–$16 bil.

Investment income of tax-exempt private foundations

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Increase excise tax rates

–$16 bil.

Charitable contributions made by corporations

Establish a floor of one percent of taxable income on deduction

–$17 bil.

Excise tax on on money sent abroad

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Impose new excise tax on remittance transfers by those who are not U.S. citizens or U.S. nationals

–$22 bil.

Limitation on excess business losses by noncorporate taxpayers

Make permanent

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–$27 bil.

De minimis entry privilege

Repeal the privilege, which currently allows shipments under $800 to enter the U.S. duty-free

–$39 bil.

New limitation on itemized deductions

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Permanently change

–$41 bil.

Raise certain taxes to retaliate against “unfair foreign taxes”

–$116 bil.

State and local tax deduction

Permanently cap itemized deductions for state and local taxes at $30,000 per household. The current cap is set to expire next year, so any cap imposed would save the government money.

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Late negotiations increased the SALT cap to $40,000. That change is not reflected in the savings shown here.

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–$916 bil.

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Biden judge rejects Trump’s sanctuary cities lawsuit, says even a win wouldn’t solve DOJ’s problem

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Biden judge rejects Trump’s sanctuary cities lawsuit, says even a win wouldn’t solve DOJ’s problem

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A federal judge has tossed the Trump administration’s lawsuit against four New Jersey sanctuary cities, ruling the Justice Department targeted local policies that largely mirror a statewide immigration directive — meaning a court victory wouldn’t eliminate restrictions on ICE cooperation.

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U.S. District Judge Evelyn Padin of the District of New Jersey, who was appointed by President Joe Biden, on Wednesday dismissed the Department of Justice’s lawsuit against Newark, Hoboken, Jersey City and Paterson, ruling the federal government lacked standing because striking down the cities’ policies would not remedy its alleged injuries.

“The Federal Government’s case has a fundamental flaw — it treats the Challenged Policies as though they operate in isolation. They do not,” Padin wrote. “New Jersey’s Immigrant Trust Directive is a statewide directive that, like the Challenged Policies, limits voluntary cooperation with federal civil immigration enforcement beyond what the law requires.”

The lawsuit was part of President Donald Trump’s renewed immigration crackdown following his return to office. Since declaring a national emergency at the southern border on Jan. 20, 2025, the administration has aggressively targeted so-called sanctuary jurisdictions, arguing that local policies limiting cooperation with ICE obstruct federal immigration enforcement and violate the Constitution.

DHS TORCHES NEW JERSEY’S PROFANE ‘F—ICE ACT’ AS ASSAULTS ON AGENTS SKYROCKET 1,300%

Immigration and Customs Enforcement (ICE) agents stand outside Delaney Hall detention center in Newark, New Jersey. 5/28/26. (Rashid Umar Abbasi for Fox News Digital.)

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The Justice Department filed the lawsuit in May 2025, arguing the four cities’ sanctuary policies violate the Constitution’s Supremacy Clause by interfering with federal immigration enforcement, including limiting voluntary cooperation with ICE, restricting information sharing, declining to honor certain immigration detainers and barring participation in civil immigration enforcement beyond what federal law requires.

Newark, Hoboken and Jersey City each adopted executive orders declaring themselves “fair and welcoming” or “sanctuary” cities, while Paterson implemented police procedures designed to comply with New Jersey’s immigrant protections. The cities have argued the policies preserve community trust and allow local police to focus on state and local crime rather than federal civil immigration enforcement.

But Padin did not address the question of whether the sanctuary policies are constitutional. Instead, she ruled the federal government lacked standing because New Jersey’s Immigrant Trust Directive independently imposes many of the same restrictions on law enforcement agencies across the state.

GOP CANDIDATE RIPS BLUE STATE DIRECTIVE MEDDLING IN POLICE FORCE’S COOPERATION WITH ICE: ‘HANDCUFFED’

New Jersey Gov. Mikie Sherrill said ICE is denying her access to Newark’s Delaney Hall detention center. (Rashid Umar Abbasi for Fox News Digital; Daniel Heuer/Bloomberg via Getty Images)

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The directive, first issued under former Gov. Phil Murphy in 2018 and codified into state law by Gov. Mikie Sherrill earlier this year, limits when state and local police can cooperate with federal immigration authorities on civil immigration enforcement.

Because the statewide directive wasn’t challenged in this case, Padin concluded that even if she struck down the cities’ policies, many of the same restrictions would remain in place.

“Even if the Court enjoined the Challenged Policies,” she wrote, “its injuries would persist.”

NEW JERSEY’S BAN ON PRIVATELY OPERATED ICE DETENTION CENTERS STRUCK DOWN BY COURT

That directive has already survived multiple legal challenges. The Third Circuit upheld it after New Jersey counties argued it conflicted with federal immigration law, and the Justice Department later sued New Jersey directly over the policy, lost and did not appeal.

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“No judgment here could invalidate the ITD or relieve municipal law enforcement officers of their independent obligation to follow it,” Padin wrote.

U.S. Immigration and Customs Enforcement agents are seen at Terminal 1 of JFK Airport in New York City. An ICE agent saved the life of a 1-year-old boy at JFK after performing the Heimlich maneuver, the Department of Homeland Security said. (Getty Images)

The opinion also faulted the government for failing to identify concrete injuries caused solely by the cities’ policies. While the Justice Department cited several instances in which ICE detainers allegedly were ignored, every example involved the Essex County Correctional Facility, a county-operated jail that is not a defendant in the lawsuit and is governed by the statewide directive.

“The Federal Government must plead facts that substantiate its feared harm,” Padin wrote.

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Padin dismissed the lawsuit without prejudice, meaning the administration isn’t barred from bringing the case again if it can overcome the standing issue.

The Justice Department declined to comment.

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Supreme Court rules Trump may end legal protection for Haitians and Syrians

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Supreme Court rules Trump may end legal protection for Haitians and Syrians

The Supreme Court ruled Thursday that the Trump administration may end the Temporary Protected Status granted to more than 350,000 Haitians and Syrians whose home countries remain unsafe.

In a 6-3 decision, the court’s conservative majority said Congress gave the administration, not judges, the power to cancel or renew this temporary protection for non-citizens who are living and working here.

In a second win Thursday for the Trump administration, the court also upheld the administration’s policy of blocking asylum seekers at the southern border.

By the same 6-3 vote, the court said migrants do not have a right to apply for asylum if they are not already in the United States.

The decision on Temporary Protected Status could affect up to 1.3 million non-citizens who are in the country.

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In 1990, Congress authorized this emergency humanitarian relief for non-citizens whose home countries were wracked by armed conflict, natural disasters or other extraordinary disruptions.

Under the law, the Department of Homeland Security may grant this protection for 6, 12 or 18 months and either renew or extend it for a similar period.

But this legal authority has been under dispute since Trump returned to the White House last year and targeted the 1.3 million people with TPS from 17 countries who were living in the United States.

Trump’s lawyers said the law made clear there was “no judicial review” of the government’s decision to cancel the grant of temporary protection.

However, immigrant rights lawyers argued the government failed in its duty to consult the State Department and assess whether it was safe for migrants to return home.

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Repeatedly, U.S. district judges agreed with the challengers and ruled the administration’s decisions were “arbitrary” and unreasonable. But in nearly every case, the Supreme Court granted emergency appeals from the administration and set aside those orders.

Since TPS was created, the government has ended the protected designation for citizens of 18 countries.

DHS under then-Secretary Kristi Noem ended TPS for Honduras, Nicaragua, Afghanistan and Venezuela. A spokesperson for the agency previously said the Haiti designation became “a de facto amnesty program” and that allowing Syrians to remain is contrary to national interest.

Advocates for the immigrants argue that the administration failed to conduct the required process to properly evaluate each country’s conditions and instead acted on political grounds driven by racial animus.

State Department travel advisories for both countries warn people against traveling to either because of the risk of terrorism, kidnapping and widespread violence. But Federal Register notices announcing the terminations said country conditions had improved enough.

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Recently released internal documents show that DHS decided to terminate protections for Haitians without any input from the State Department.

Citing the documents, which were obtained by the National TPS Alliance in a separate lawsuit, lawyers for the Haitians asked the Supreme Court to dismiss the case and send it back to lower courts. They argued that the justices should first consider the communications before issuing a decision.

Internal emails show that homeland security officials sought a recommendation from the State Department in May 2025, ahead of Noem’s early June deadline on whether to extend protections for Haiti. But by the time Noem signed what appears to be a final decision memo, U.S. Citizenship and Immigration Services had not received input from the State Department, the emails show.

“State recommendation for Haiti TPS has not come in despite of many outreach,” a homeland security deputy assistant secretary wrote in a June 2, 2025, email. A recommendation “would be helpful to have,” the person added.

Eleven days later, a USCIS project manager wrote in an email that Noem “recently elected to terminate Haiti without country conditions from DOS.”

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USCIS initially recommended automatically extending protections before Homeland Security decided to terminate them, earlier versions of the memo indicate.

The June decision was blocked by a federal judge. In November, DHS issued another notice terminating TPS protections for Haitians.

That time, according a previously publicized email, a homeland security senior counselor asked a State Department official for the agency’s views on the country conditions in Haiti. The official, Spencer Chretien, didn’t address the country conditions but responded that “there would be no foreign policy concerns.”

Lawyers for the Haitians argued that response didn’t meet the legal standard for a sufficient consultation, though the Trump administration disagreed.

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Closed-door outburst turns into victory for Trump’s Iran negotiations

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Closed-door outburst turns into victory for Trump’s Iran negotiations

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An explosive meeting in the Senate turned into a win for President Donald Trump and his administration as key Republicans flipped on another bid to handcuff the administration’s authorities in Iran. 

In its final act before leaving Washington, D.C., for an over two-week break, the Senate rejected Democrats’ attempt to rein in Trump’s war powers in Iran as talks continue between Iran and the U.S. to hammer out a long-term peace deal. 

It was the same war powers resolution from Sen. Tim Kaine, D-Va., that passed over a month ago and stunned Republicans in the upper chamber.

‘HE NAMED NAMES’: TRUMP’S SENATE MEETING EXPLODES INTO SHOUTING MATCH OVER IRAN

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Majority Leader John Thune, R-S.D., and Senate GOP leaders are pushing forward with budget reconciliation to fund the final piece of government that had been shut down by Senate Democrats’ opposition to President Donald Trump’s Immigration and Customs Enforcement actions. (Nathan Posner/Anadolu)

What seemed like a predetermined outcome just hours after Trump and Sen. Bill Cassidy, R-La., sparred over the Iran war, and the administration’s lack of forthcomingness with lawmakers, during a closed-door meeting to discuss the president’s marquee voter ID and citizenship verification legislation turned into a surprise late night win.

Trump argued to the GOP that the previous war powers resolution, which passed on Tuesday thanks in part to a pair of Republicans being absent, hurt the administration’s negotiating position with the Iranians.

Meetings with key holdouts at the White House helped change the minds of Cassidy and Sen. Rand Paul, R-Ky., who has routinely voted with Democrats on every war powers resolution brought forward, and provided the administration with a win as they work toward a deal beyond the 60-day memorandum of understanding with Iran.

IRATE REPUBLICANS ACCUSE TRUMP OF HANDING DEMOCRATS A WIN AFTER BLOWING UP HOUSING PACKAGE

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“I want to thank Vice President [JD] Vance and Special Envoy [Steve] Witkoff for the thorough briefing this afternoon on Iran,” Cassidy said on X. “I appreciate the quick invitation to the White House to address many of my concerns.” 

And Paul, who voted present, noted that his “opinion on the debate over war and executive power has not changed and I have voted that way several times.” 

“But since hostilities seem to be over and the President asked me to give consideration to his negotiating position, I will do so,” Paul said on X. “My vote of present is a way to give the President more space and leverage to negotiate a lasting peace.”

Sen. Chris Murphy, D-Conn., who has been at the forefront among Democrats in pushing war powers resolutions in the upper chamber, acknowledged that “this is a different moment,” but cautioned that the ceasefire appeared to be “precarious right now.” 

When asked if he believed Trump’s case to Republicans that the successful war powers vote just a day before was hurting the administration’s leverage, Murphy said, “The Iranians don’t — you know, all they have to do is read a poll and find out that people in this country don’t support the war. They didn’t support the war.”

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TRUMP HEADS TO CAPITOL HILL FOR PIVOTAL MEETING AS SENATE GOP DIVISIONS DEEPEN

President Donald Trump boards Air Force One as he departs Reading Regional Airport in Reading, Pa., on Tuesday, June 23, 2026. (Evelyn Hockstein/Reuters)

Still, it marked a key win for Senate Majority Leader John Thune, R-S.D., and the Senate GOP’s whip operation, led by Senate Majority Whip John Barrasso, R-Wyo., to flip the skeptics into backers of the administration’s long game in Iran after several contentious weeks in the Senate spurred by Trump’s last-minute decisions that either derailed or torpedoed several of his key agenda items. 

Thune and Barrasso, accompanied by Sens. Lindsey Graham, R-S.C., and Bernie Moreno, R-Ohio, huddled in the GOP leader’s office as the vote wound down late Wednesday to call Trump, and share the news of the vote. 

“Wow! The Senate just changed its vote on Iran from 50-48 against, to 50-47 for,” Trump said on Truth Social. “Rand Paul and Bill Cassidy changed. Thank you to Leader John Thune, Lindsey Graham, Bernie Moreno, and all. This vote puts Iran on notice!”

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It also comes at a time when speculation has swirled over the nature of Thune and Trump’s relationship as the president, accompanied by chatter online, have ramped up the pressure to pass the Safeguarding American Voter Eligibility (SAVE) America Act. 

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Moreno made the case that the questions over their relationship, and Thune’s position as leader, was just noise, and that “there’s not a single solitary Senator running for office that says leader Thune should be replaced, not one, even non-incumbents.” 

“What today showed is that President Trump has a kind of relationship with John Thune where he says, ‘Hey, let me talk to the guys,’ understand the situation,” Moreno said. “As much as Cassidy and Trump got into it, it was because they’re both passionate, they’re both smart people.”

“And now, we’ve most importantly sent the Iranians a message that President Trump has the full backing of the Congress, and that was an incredibly important day,” he continued. “That’s a huge victory for us.”

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